Energy Storage Companies to Watch
These 10 energy storage companies are the next big thing. They’re developing products that will extend the range of electric vehicles and increase their adoption. While they’re still speculative, these companies could explode in the next few years in the renewable energy industry. Listed in the tech industry, these companies have big ambitions and promise to revolutionize the way we produce and store energy.
The energy storage industry is booming in the United States. In 2018, roughly 2% of all energy produced in the United States was stored. Energy storage technologies allow power grids to balance demand and supply instantly. This flexibility will become more important as renewable resources are integrated into the grid. In addition, storage systems can increase grid reliability.
AES is a global energy company with a market cap of $16 billion. Its massive battery-storage system in Southern California will replace the need for a new natural gas plant. It also recently partnered with Google on a carbon-free energy plan for Google’s data center in Virginia. This company has been gaining ground and is planning to expand its production facility to meet the growing demand for its products.
The growth of energy storage companies is expected to continue as the demand for renewable energy grows. According to a recent study by the Bloomberg New Energy Finance Institute, the market for energy storage technologies will surpass $16 billion by 2022. However, this growth is unlikely to come without a price increase. There are already other companies that have a competitive advantage in the market. The energy storage industry is booming, so it makes sense to invest in a company in the sector.
Ten Energy Storage Companies to Watch in 2022
The growing demand for renewable energy is a huge opportunity for investors. The European Union has a stated goal to reduce carbon emissions by 2050, and if it does, it’s going to need to invest heavily in the development of renewable energy sources. It’s crucial to store this energy for later use, and the process can take place at the grid level or at the building level. As a result, Europe is a hub for energy storage technologies.
One of the best-known companies in the energy storage industry is Sonnen GmbH. This German company produces home energy storage systems. It is a leader in the German and international markets. In addition to making energy storage systems, Sonnen is also at the heart of a renewable energy community. The company has already partnered with Mercedes-Benz to develop 20 kW-hr energy storage systems for the Mercedes-Benz car company.
Another energy storage company to keep an eye on is NextEra Energy Resources. This company operates one of the largest electric utilities in the country, and it has contributed substantially to the development of battery storage technologies.
In the energy storage space, we’ve seen a lot of lithium-ion battery production. These batteries have garnered a lot of attention, mainly because they’re so effective in EVs. However, some upcoming chemical solutions are poised to knock lithium-ion batteries off the top spot soon, but they have to make a significant leap into production or face “production hell.” Other solutions, such as the redox flow battery, sound promising, because they have long run-times and inexpensive materials.